Shares are trading at $15.86 which is impressively higher than $13.29, the 50 day moving average and which is well above the 200 day moving average of $12.57. The 50 day moving average went up $2.57 or +19.35% and the 200 day average was up $3.29. (NYSE:HRTG) shares saw light trading volume with 221K shares changing hands by the end of trading on Tuesday. Overall, volume was down 9.60% under the stocks normal daily volume.
Traders are feeling more bullish on shares of the company of late if you look at the downtick in short interest. The firm recorded a fall in short interest between September 15, 2017 and September 29, 2017 of -0.94%. Short interest fell from 5,326,363 to 5,276,526 over that timeframe. With short interest at 5,276,526 and short average daily volume at 450,222, days to cover is 12.0 and the percentage of shorted shares was 0.19% on September 29.
There has been some buying insider activity on Heritage Insurance Holdings, In (NYSE:HRTG) recently. Ernie J. Garateix, Chief Operating Officer bought $7,224 worth of shares at a price of $10.32 on September 6th. That brings Garateix’s holdings to $1,554,904 as recorded in a recent Form 4 SEC filing. Director Joseph Vattamattam acquired 1,000 shares at an average price of $11.44 on Mon the 21st. The Director now owns $565,605 of the stock as reported to the SEC.
The following firms have recently changed their position in HRTG. Gw&k Investment Management, LLC divested its ownership by shedding 1,603 shares a decrease of 1.4%. Gw&k Investment Management, LLC controls 112,081 shares with a value of $1,481,000. The total value of its holdings increased 0.1%. Cutler Group LP bolstered its holdings by buying 19,266 shares an increase of 2,624.8% in the quarter. Cutler Group LP now holds 20,000 shares worth $25,000. The value of the position overall is up by 177.8%.
As of the end of the quarter Creative Planning had sold a total of 209,033 shares trimming its stake by 13.6%. The value of the company’s investment in Heritage Insurance Holdings, In went from $19,980,000 to $17,510,000 a change of 12.4% for the reporting period. As of quarter end Bank Of Montreal /can/ had disposed of 879 shares trimming its holdings by 17.2%. The value of the investment in HRTG decreased from $67,000 to $56,000 a change of $11,000 quarter over quarter.
On October 17 Citigroup maintained a stock rating of “Buy” but moved up the price target from $16.00 to $18.00.
The company is trading down from yesterday’s close of 15.87. The company recently declared a dividend which was paid on Monday the 2nd of October 2017. The dividend was $0.060 per share for the quarter or $0.24 on an annualized basis. This dividend amount was represent a yield of $1.51. The ex-dividend date was Thursday the 14th of September 2017.
The P/E ratio is currently 22.37 and market cap is 471.04M. As of the last earnings report the EPS was $0.71 and is estimated to be $0.73 for the current year with 29,700,000 shares outstanding. Next quarter’s EPS is forecasted to be $0.40 and the next full year EPS is anticipated to be $2.16.
Heritage Insurance Holdings, Inc. (Heritage Insurance), launched on December 30, 2013, is a property and casualty insurance holding company. The Company provides personal and commercial residential insurance. Through its subsidiary, Heritage Property & Casualty Insurance Company (Heritage P&C), it provides personal residential insurance for single-family homeowners and condominium owners, rental property insurance and commercial residential insurance in the state of Florida and North Carolina. The Company is vertically integrated and controls or manages all aspects of insurance underwriting, customer service, actuarial analysis, distribution and claims processing and adjusting. The Business’s primary products are personal and commercial residential insurance, which it offers only in Florida..